Wednesday, October 24, 2012

Week 4 EOC: Marketing at work

The consumer relationship between the product and themselves is a tricky one. The fact that you could have the best product in the world and it's proven to work more efficiently than anything on the market and is half the price, does not mean that it will attract the attention of your targeted buyers. The main element in building the desired relationship is marketing and advertising. Without the correct type of marketing strategy and an ineffective advertising campaign, no matter how superior your product is, it will fall on deaf ears.
Building this strategy and recognizing the correct path to take in order to reach your buyers is an entirely different circumstance. According to a CSXT purchasing executive, the company “evaluates many cost factors before awarding … a locomotive contract. This shows the process of how a product is processed before being used or "sent out" for business.
Environmental impact, fuel consumption, reliability, serviceability [are] all key elements in this decision.” But also important is “the value of our ongoing partnership with GE.” Again this shows that a lot of thought is put into a product and its evaluation before actually being produced or put on the shelf for a customer to ponder.

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